Get Started
Follow the instructions below to get started.
Follow the instructions below to get started.
You already completed this step. Click "Continue" below to continue with the application for your Land Loan. Please complete the section for Unimproved Property and submit the application to your nearest HFS FCU branch.
ContinueA vacant land loan is used to finance the purchase of land. Finding that ideal property makes it that much more exciting when you’re ready to build the home of your dreams. Choose fixed rate financing for a long term project or a more affordable interest-only option, if construction is scheduled to start right away.
Enjoy up to 36 months of interest-only payments designed to provide you enough time to plan, obtain permits, and secure financing for the construction of your new home.
If you want to buy land now but build later, a Vacant Land 10 Year Fixed will give you the time you need to prepare.
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While searching for the perfect piece of land to build our home, we asked HFS about a Construction Loan. Our loan officer was very helpful in laying out all of the steps to get the process started. She mentioned we needed to purchase the piece of land first; to have it in our name. Since we couldn't buy the land to construct our new home outright, our loan officer suggested starting with a Vacant Land Loan. The process was quick and easy! In no time the loan was complete and we were able to get started on the construction phase of our new home. Mahalo HFS for being there for us every step of the way!
Get one-on-one help today by contacting the Credit Union and asking for a Loan Officer.
View a list of our Mortgage Loan Originators.
Download the Vacant Land Loan Packet to get started and complete the Unimproved Property sections.
A vacant land loan from HFS FCU is your stepping stone on the way to your dream home. Once you find that perfect piece of property, let us help you with the financing. While you’re at it, check out our Construction to Permanent loan option as you’re getting ready to start building.
Have questions? Make an appointment to speak with a loan officer or give us a call and we’ll be happy to assist you. We’re proud to be a part of the credit union movement, all about people helping people. We’re here to help you.
1APR= Annual Percentage Rate. The stated rate is based on a Vacant Land Interest Only Loan with a balloon payment due at 36 months. Subject to credit approval. Rates are fixed for the life of the loan. Rate may vary based on loan type. Member will be responsible for all expenses incurred to secure the loan.
SAFE Act Information
On July 28, 2010 the Nation Credit Union Administration (NCUA) and other Federal Agencies published a final rule to implement the federal registration requirements of the Secure and Fair Enforcement for Mortgage Licensing Act of 2008 (S.A.F.E. Act). The registration requirements apply to all employees acting in the capacity of a Mortgage Loan Originator (MLO). The S.A.F.E. Act requires all MLOs to register with the Nationwide Mortgage Licensing System and Registry (NMLS). Upon completing this registration, each MLO is provided with a Unique Identifier number from the NMLS. An MLO must provide this Unique Identifier number to each mortgage loan applicant upon request and prior to the employee acting as an MLO.
Membership with the Credit Union is required and open to all who live, work, worship, attend school, volunteer or participate in associations headquartered on the island of Hawaii. A minimum opening balance of $50.00 is required to open a Savings Account.
While searching for the perfect piece of land to build our home on, we inquired with HFS on their Construction Loan. Our Loan Officer was very helpful in laying out all of the steps to get the process started. She mentioned that we would need to purchase the piece of land first to have it in our name. Since we couldn't buy the land to construct our new home outright, our Loan Officer suggested starting with a Vacant Land Loan. The process was quick and easy! In no time the loan was complete and we were able to get started on the construction phase for our new home. Mahalo HFS for being there for us every step of the way!
Loan Type | Interest Rate | Points | APR (2) | Monthly Principal & Interest Payment |
Vacant Land 10 Year Fixed 120 Monthly Payments | 7.500% | 0.000% | 7.500% | $1,187.31 per $100,000.00 borrowed |
Vacant Land Interest Only (3) Up to 36 Monthly Payments | 5.250% | 0.000% | 5.250% | Interest only payments |
1APR= Annual Percentage Rate. The stated rate is based on a Vacant Land Interest Only Loan with a balloon payment due at 36 months. Subject to credit approval. Rates are fixed for the life of the loan. Rate may vary based on loan type. Member will be responsible for all expenses incurred to secure the loan.
(2)APR= Annual Percentage Rate.
(3)Monthly interest only payments with a balloon payment due at 36 months.
Subject to credit approval. Rates are fixed for the life of the loan. Rate may vary based on loan type. Member will be responsible for all expenses incurred to secure the loan.
Membership with the Credit Union is required and open to all who live, work, worship, attend school, volunteer or participate in associations headquartered on the island of Hawaii. A minimum opening balance of $50.00 is required to open a Savings Account.
Member will be responsible for all expenses incurred to secure the loan. This includes an initial deposit of $800.00 to defray expenses for:
Note: Member will pay before final closing, any outstanding expenses exceeding the $800.00 deposit. Member will be refunded any balance of the $800.00 initial deposit.
Unfortunately at this time, all Vacant Land Loans must be submitted to the Credit Union with a paper application. For complete details and the application please reference the Unimproved Property section of the Real Estate Packet. Should you have any additional questions, please call (808) 930-1400 or visit any office.
Drop us a message anytime with your questions about Vacant Land loans.
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